This acquisition is the most recent extension of an initiative that began several years ago when we first emphasized our efforts to get closer to our customers.

this acquisition is the most recent extension of an initiative that began several years ago when we first emphasized our efforts to get closer to our customers


are starting to give us a true competitive advantage in addressing the growth opportunities that I referred to earlier.

are starting to give us a true competitive advantage in addressing the growth opportunities that i referred to earlier


Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance,

such forward-looking statements involve known and unknown risks uncertainties and other factors which may cause the actual performance


Okay. And then just a quick question for Dave. Just so I'm clear on how this accretion guidance works and what base we're talking about.

okay and then just a quick question for dave just so i'm clear on how this accretion guidance works and what base we're talking about


And Western Australia continues to benefit from the addition of new customers, with the full-year contribution from the Eastern Goldfields Pipeline,

and western australia continues to benefit from the addition of new customers with a full year contribution from the eastern goldfields pipeline


You talked about that kind of potentially starting to contribute more in the back half of the year. You started doing some bids.

you talked about that kind of potentially starting to contribute more in the back half of the year you started doing some bids


And we are working closely with our customer to evaluate that option. We expect to have a better view of this in the fourth quarter.

and we are working closely with our customer to evaluate that option we expect to have a better view of this in the fourth quarter


Results in the quarter reflect continued growth in retirement consulting, primarily driven by demand for delegated investment consulting services.

results in the quarter reflect continued growth in retirement consulting primarily driven by demand for delegated investment consulting services


we have reached the end of what we call our countercyclical business development program, and we are really shifting our attention to project execution.

we have reached the end of what we call our founder cyclical business development program and we are really shifting our attention to project execution


So we see the Media business as very important to us as well as to our customers. And therefore, we have

so we see the media business as very important to us as well as to our customers and therefore we have


primarily reflecting the differences between the short- and long-term rate assumptions and the negative market movements over the year.

primarily reflecting the differences between the short and long-term rate assumptions and the negative market movements over the year


if you think about just a small increment of royalties across our entire base, that's -- that can be a huge amount of money

if you think about just a small increment of royalties across our entire base that can be a huge amount of money


Our strong operating cash flow performance and meaningful improvement in the quality of our assets and the distinct and valuable strategic position of our franchise

our strong operating cash flow performance the meaningful improvement in the quality of our assets and the distinct and valuable strategic position of our franchise


improvement of the capabilities of the lines, which, in the end, is also quality, but we are talking automation that leads to,

improvement of the capabilities of the lines which in the end is also quality but we are talking automation that leads to


These transactions as well as cash flow generation during the fourth quarter, allowed Gulfport to return a significant amount of capital to shareholders.

these transactions as well as cash flow generation during the fourth quarter allowed gulfport to return a significant amount of capital to shareholders


precisely the move from prepaid to postpaid. And we think we've hit it right on the spot on the way to do it

precisely the move from prepaid to postpaid and we think we've hit it right on the spot on the way to do it


for new and reactivated horsepower across the industry, causing pricing there to be very competitive.

for new and reactivated horsepower across the industry causing pricing there to be very competitive


and then make some comments regarding our balance sheet. Additionally, you can view the reconciliation of GAAP and non-GAAP financial measures in our press release.

and then make some comments regarding our balance sheet additionally you can view the reconciliation of gaap and non-gaap financial measures in our press release


On top of this, this also bakes in a delay in the ramp of a large server manufacturing platform, which was previously expected to ramp in the December quarter

on top of this this also bakes in a delay in the ramp of a large server manufacturing platform which was previously expected to ramp in the december quarter


Having said that, it won't go up as much as EPS because of what I said about CapEx. I hope that gives you the color that you need.

having said that it won't go up as much as eps because of what i said about capex so i hope that gives you the color that you need


While the transient component of our RV business only represents 5% of our overall revenue, it is an important feeder for the rest of our RV business.

while the transient component of our rv business only represents 5% of our overall revenue it is an important feeder for the rest of our rv business


We'll be able to get those deals done in the near term. We will not -- we are not likely to be on every

we'll be able to get those deals done in the near term we will not -- we are not likely to be on every


is to pursue strategically important acquisitions and divestures. We continually evaluate our internal business portfolio

is to pursue strategically important acquisitions and divestitures we continually evaluate our internal business portfolio


are subject to future risks and uncertainties. Please refer to Slide 2 of today's presentation for further details.

are subject to future risks and uncertainties please refer to slide 2 of today's presentation for further details


And also writing the certification exam, that's the precursor to the actual exam, only a handful have made it to the province and have written the exam.

and also writing the certification exam that's the precursor to the actual exam only a handful have made it to the province and have written the exam


That's going to -- okay, got it. And then maybe last one for me and then I'll hop off. How aggressively are you seeing

that's going to -- okay got it and then maybe last one for me and then i'll hop off how aggressively are you seeing


is built on the pillars of growing with its customers, delivering with excellence and partnering for shared success.

is built on the pillars of growing with its customers delivering with excellence and partnering for shared success


lower production volumes led to lower fixed cost absorption resulting in a loss that we posted in the quarter.


As we enter the second half of the year, I also wanted to provide some observations on the macro environment impacting the business.

as we enter the second half of the year i also wanted to provide some observations on the macro environment impacting the business


as well. It was a combination of the 2 that -- it was a combination of 2 bad rules, rule factors there in the first quarter.

as well it was a combination of the 2 that -- it was a combination of 2 bad worlds -- world factors there in the first quarter


with embedded derisked growth, which we continue to unlock as we redevelop and re-lease our space.

with embedded derisked growth which we continue to unlock as we redevelop and release our space


However, we saw strong growth in operating volumes across all segments of the business, and I'll show you the operating stats shortly.

however we saw strong growth in operating volumes across all segments of the business and i'll show you the operating stats shortly


And as we turned into our second year, I saw the necessary foundation for our ultimate success building in the right direction.

and as we turned into our second year i saw the necessary foundation for our ultimate success building in the right direction


The Q3 results are the most recent indication of the improvement in the insurance business.

the q3 results are the most recent indication of the improvement in the insurance business


The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

the conference has now concluded thank you for attending today's presentation you may now disconnect


our sell-in to sell-through, which allows us to maintain and keep our retailers in a much healthier inventory position than we were -- than they were in

our sell-in to sell-through which allows us to maintain and keep our retailers in a much healthier inventory position than we were -- than they were in


our board amended our share repurchase plan and increased the authorized number of shares available to be repurchased by 7.5 million

our board amended our share repurchase plan and increased the authorized number of shares available to be repurchased by 7 5 million


have been running better than we might have expected at the beginning of the year or when we did the acquisition model that valued Visa Europe.

have been running better than we might have expected at the beginning of the year or when we did the acquisition model that valued visa europe


We think that will turn around pretty quickly with the new funding in place, but what you're seeing right now is really driven by healthy private demand.

we think that'll turn around pretty quickly with the new funding in place but what you're seeing right now is really driven by healthy private demand


They're probably very dependent upon where their steel positions were, what inventory costs were and how they were managing through that.

probably very dependent upon where their steel positions were what inventory costs were and how they were managing through that


We would plan to provide an update of this guidance at the time that we close the pending transaction for the Valspar wood coatings business.

we would plan to provide an update of this guidance at the time that we close the pending transaction for the valspar wood coatings business


as we sort of finalize some of the newer indications then we'll be able to provide sort of bookends as to what the market potential for those would be,


Now what's interesting is the last year in particular, we've now started to be able to look at supply chain as an opportunity.

now what's interesting is the last year in particular we've now started to be able to look at supply chain as an opportunity


We will be orchestrating the sourcing and selection of the technology solutions that will create this European digital bank,

we will be orchestrating the sourcing and selection of the technology solutions that will create this european digital bank


Again, some of these unique customer dynamics that we saw in the third quarter and fourth quarter of last year we'll have to deal with in the fourth quarter of this year.

again some of these unique customer dynamics that we saw in the third quarter and fourth quarter of last year we'll have to deal with in the fourth quarter of this year


Ladies and gentlemen, thank you for participating in today's conference. This does conclude the program, and you may all disconnect. Everyone, have a great day.

ladies and gentlemen thank you for participating in today's conference this does conclude the program and you may all disconnect everyone have a great day


Furthermore, many of our customers were primarily refractive LASIK centers and have little or no experience with buy and bill drugs

furthermore many of our customers were primarily refractive lasik centers and had little or no experience with buy-and-build drugs


and we were adversely impacted by a competitive private label tissue market and significant commodity and transportation cost inflation.


during the Christmas season this year strong growth in this area, and Marvell is going to be part of it and a big part of it.

during the christmas season this year strong growth in this area and marvell is going to be part of it and a big part of it


Also in communication around the fixed price increase during the summer, we were able to personalize messaging to our customers.

also in communication around the fixed price increase during the summer we were able to personalize messaging to our customers


incorporated into the existing filing for KEYNOTE-010? We have seen the agency moving that way before, but

incorporated into the existing filing for keynote-10 we have seen the agency move in that way before but


Compared to the third quarter, we expect a slight decline in the fourth quarter sales for this business with margins similar to the first quarter.

compared to the third quarter we expect a slight decline in the fourth quarter sales for this business with margins similar to the first quarter


are difficult to predict and which can cause actual results to materially differ from those expressed or forecast in these forward-looking statements.


you've mentioned a few times the success of the smaller brands. Well, I just wonder whether there's not a bit of confusion here because

you've mentioned a few times the success of the smaller brands would i just wonder whether there's not a bit of confusion here because


So isn't it more the case of having stayed relevant as a big brand rather than saying that it's the smaller brands

so isn't it more the case of having stayed relevant as a big brand rather than saying that it's the smaller brands


not going to sit idly by and let them push us around. We have to make our statement to show them that we're serious about collecting

we're not going to sit idly by and let them push us around we have to make our statement and show them that we're serious about collecting


one thing that I'm very sure about is that the fear that all of us seem to be having about this is possibly not to the

one thing that i'm very sure about is that the fear that all of us seem to be having about this is possibly not


at a much lower price per puff, is a major opportunity for VIP. Six new products have been identified

at a much lower price per puff is a major opportunity for vip six new products have been identified


several times. And it ended up that it didn't work out. It would not be profitable for us. Although we can plant a flag if we wanted to, but

several times and it ended up that it didn't work out it would not be profitable for us although we could plant a flag if we wanted to but


And by virtue of holding lower levels of inventory, in turn that obviously leads into lower floor plan debt and interest.

and by virtue of holding lower levels of inventory in turn that obviously leads into lower floor plan debt and interest


because we do think that in these ways of doing, we can really gain efficiency in the way we develop projects.

because we do think that in these ways of doing we can really gain efficiency in the way we develop projects


We will invest in research areas that bring health and wellness benefits that can't be measured only on the scale.

we will invest in research areas that bring health and wellness benefits that can't be measured only on the scale


We also have the capability and responsibility to make communities healthier by making healthy habits accessible to all,

we also have the capability and responsibility to make communities healthier by making healthy habits accessible to all


a significant gain in our renewal rates and strong year-over-year growth in both deferred revenue and aggregate revenue under contract.


The company remains active in protecting its intellectual property by pursuing firms and individuals who had previously gained unauthorized access to our services.

the company remains active in protecting its intellectual property by pursuing firms and individuals who had previously gained unauthorized access to our services


We've operated there for over 9 years. We're very comfortable operating in the DR, and we look forward to growing our business there.

we've operated there for over 90 years we're very comfortable operating in the dr and we look forward to growing our business there


we don't provide specific expectations around segment revenue within a quarter for a variety of reasons. But

we don't provide specific expectations around segment revenue within a quarter for a variety of reasons but


it's in 3 years. So we would probably say that it's in the lower part of the range. And I would say probably as we speak now and what we know

it's in 3 years so we would probably say that it's in the lower part of the range and i would say probably as we speak now and what we know


Got it. And just thinking about the directional organic growth of mortgage solution revenue.

got it and just thinking about the directional organic growth of mortgage solution revenue


These offerings now account for 27% of the segment's revenue, and are expected to continue to grow at double digits in the long term.

these offerings now account for 27% of the segment's revenue and are expected to continue to grow double digits in the long term


As we saw throughout much of 2018, operational and financial trends held up until wet weather began impacting our business in late November.

as we saw throughout much of 2018 operational and financial trends held up until wet weather began impacting our business in late november


We do believe that some of the existing frameworks and conventions that are being used in both traditional C-Corp managers and alternatives are

we do believe that some of the existing frameworks and conventions that are being used in both traditional c-corp managers and alternatives are not


It was just last year at this time that we were in the process of recovering from Hurricane Harvey. So we empathize with those now in that position.

it was just last year at this time that we were in the process of recovering from hurricane harvey so we empathize with those now in that position


look at the G1 and to identify the great features of it and features that they think they could improve upon.

look at the g1 and to identify the great features of it and features that they think that they could improve upon


ago. This road map is going to be implemented over the next 3 years because it implies substantial changes

this rate mark is going to be implemented over the next 3 years because it implies substantial changes


later on. This has led us, in a certain number of cases, to projects where we'll actually be setting up shop

later on this has led us in a certain number of cases to projects where we will actually be setting up shop


We have proven our ability to capitalize on continuing strong fundamentals in the apartment business through all economic cycles.

we have proven our ability to capitalize on continuing strong fundamentals in the apartment business through all economic cycles


And to make sure that people can do the work, and that they can do those long routes, we also are changing into e-bikes.

and to make sure that people can do the work and that they can do those long routes we also are changing into e-bikes


Thank you, Neal, and good morning, everyone. I'd like to begin this morning by reviewing our financial performance for the fourth quarter and full year.

thank you neil and good morning everyone i'd like to begin this morning by reviewing our financial performance for the fourth quarter and full year


back a couple of years ago, more than a couple of years ago, the prior owner of home health and beauty and Dispensing had an Analyst Day on

back a couple of years ago more than a couple of years ago the prior owner of home health and beauty and dispensing had an analyst day on


This decrease was primarily due to the pass-through of lower raw material and other manufacturing costs and a shift in sales mix to smaller can sizes.

this decrease was primarily due to the pass-through of lower raw material and other manufacturing costs and a shift in sales mix to smaller can sizes


about our expense expectation, in nominal terms, I can say that we are firmly focused on

about our expense expectation in nominal terms i can say that we are firmly focused on


the multi-arm cells or quite frankly, more complex typed automation systems, and we want to be their partner on that journey.

the multi-arm cells or quite frankly more complex type automation systems and we want to be their partner on that journey


which gave us the range and flexibility to use a new aircraft versus what was available on the leased market. So that was the only reason.

which gave us the range and flexibility to use a new aircraft versus what was available on the lease market so that was the only reason


built over multiple years retain confidence in their counterparty. In short, strong credit ratings are critical to our business model and strategy,

built over multiple years retain confidence in their counterparty in short strong credit ratings are critical to our business model and strategy


This decline was due to the impact of economic deceleration in Asia on the motor vehicle business as well as a downturn in the ship market.

this decline was due to the impact of economic deceleration in asia on the motor vehicle business as well as a downturn in the ship market


In fact, we have passed Amazon's rigorous shipping test standard and are actively working with their brand managers on e-commerce opportunities.

in fact we have passed amazon's rigorous shipping test standards and are actively working with their brand managers on e-commerce opportunities


The pre-marketing portion of the trial will focus on an interim analysis of proteinuria, which shows a substantial treatment effect,

the pre-marketing portion of the trial will focus on an interim analysis of proteinuria which shows a substantial treatment effect


As you know, our CMO had an unforeseen manufacturing delay, which resulted in us having to move first patient dosed in the trial.

as you know our cmo had an unforeseen manufacturing delay which resulted in us having to move first patient dosed in the trial


The combination of security and SD-WAN functionality into a single form factor drove this competitor displacement.

the combination of security and sd-wan functionality into a single form factor drove this competitor displacement


that has many aspects and involves the regulator, among other things. But I could not go into detail in

that has many aspects and involves the regulator among other things but i could not go into detail and


But when you read across the media reports or whatever coming across, the general perception still remains that the Internet speed in Philippines is not that great.

but when you read across the media reports whatever coming across the general perception still remains that the internet speed in philippines is not that great


was primarily driven by the favorable mix between services and products that I noted earlier and our cost-reduction actions,

was primarily driven by the favorable mix between services and products that i noted earlier and our cost reduction actions


So I think I'd answer that with what we've already talked about, Kenric. I think we have and are working on a wide variety of alternatives

so i think i'd answer that with what we've already talked about kenneth i think we have and are working on a wide variety of alternatives


and close them and dramatically reduce the unbilleds. It can't continue to go up. I couldn't agree more.

and close them and dramatically reduce the unbilled it can't continue to go up i couldn't agree more


It is important to note these transactions were undertaken during a period with strong demand, and we are pleased with the pricing we have achieved.

it is important to note these transactions were undertaken during a period with strong demand and we are pleased with the pricing we have achieved


In the Distribution segment, our prior year comps were tough, as last year's third quarter was a very strong quarter for Distribution

in the distribution segment our prior year comps were tough as last year's third quarter was a very strong quarter for distribution


available to invest. So it's not like we bought a fully invested firm that was starting over with the fundraising process.

available to invest so it's not like we bought a fully invested firm that was starting over with the fundraising process


I'd like to draw your attention to the results of our overseas business, which we regard as an important growth area.

i'd like to draw your attention to the results of our overseas business which we regard as an important growth area


could you share with us what is going to change in your strategy? Or we need to wait for the presentation next May?

could you share with us what is going to change in your strategy or we need to wait for the presentation next may


by nearly 20 basis points. Last year, we had a flat market in this asset class.

by nearly 20 basis points last year we had a flat market in this asset class


Demand is growing across the board, particularly with new and existing international customers an area that we have targeted for growth.

demand is growing across the board particularly with new and existing international customers an area that we have targeted for growth


And so this is going to be a multiyear program that we're going to have to go after, and the pace of that will be dependent on resources, and again, progress and

and so this is going to be a multiyear program that we're going to have to go after and the pace of that will be dependent on resources and again progress and


This quarter was a very active quarter for HBC as we continue to execute on our strategy for targeted profitable growth.

this quarter was a very active quarter for hbc as we continue to execute on our strategy for targeted profitable growth


what we intend to do to continue our drive for efficiency as well as actions we will take to strengthen and streamline our infrastructure.


In addition, we are successfully launching our new group retirement product, Retirement Advantage, in more school districts.

in addition we are successfully launching our new group retirement product retirement advantage in more school districts


of senior secured loans from Pacific Western Bancorp, as the bank decided to exit middle-market lending during the first quarter.

of senior secured loans from pacific western bancorp as the bank decided to exit middle market lending during the first quarter


the number of leases is difficult to predict in the short term, we expect the proportion of these types of arrangements will increase over time.

while the number of leases is difficult to predict in the short term we expect the proportion of these types of arrangements will increase over time


or a bigger component of that, I would have thought that it would have been much closer to last year, if not below. Well, remember that

or a bigger component of that i would have thought that it would have been much closer to last year if not below well remember that


at our existing 140 Camping World stores, that there's an opportunity for growth over the next 2 years in that business as well.

at our existing 140 camping world stores that there's an opportunity for growth over the next 2 years in that business as well


As far as the reduction of people in Chile, I think there is a little bit of excitement there. We don't see any material big

as far as the reduction of people in chile i think there is a little bit of excitement there we don't see any material big


to take a look at our current initiatives in the space of digital marketing and learn about opportunities related to demand creation moving forward.


the size of these packages are going to be very area dependent. It's really complex geologically, and we take -- as we've discussed before,

the size of these packages are going to be very area dependent it's really complex geologically and we take -- as we've discussed before


So we had so much room. I think the next few years are really about flow and using the speed initiative and localization to our advantage.

so we had so much room i think the next few years are really about flow and using the speed initiative and localization to our advantage


net new customers. But the interesting part about that is given the architecture and the integration and

net new customers but the interesting part about that is given the architecture and the integration


A lot of people are cutting back on capacity because they're not making money. We are making money and believe we can make more money if we have more capacity.

while other people are cutting back on capacity because they're not making money we are making money and believe we can make more money if we have more capacity


as part of their broader engagement with Salesforce. We had notable expansions with another leading athletic apparel maker who's enhancing and expanding their direct

as part of their broader engagement with salesforce we had notable expansions with another leading athletic apparel maker who's enhancing and expanding their direct


A description of these risks, uncertainties and assumptions and other factors that could affect our financial results are included in our SEC filings,

description of these risks uncertainties and assumptions and other factors that could affect our financial results are included in our sec filings


California's future demand for out-of-state capacity will be dependent on the direction of their overall inmate populations.

california's future demand for out-of-state capacity will be dependent on the direction of their overall inmate populations


Yes. I think that, that will happen. I think there are a couple of beneficial things that will happen in our business

yes i think that that will happen i think there are a couple of beneficial things that will happen in our business


Okay. And then just for the industry, I mean, it sounds like those softened a bit through the quarter but there's been some positive signs early in January.

okay and then just for the industry i mean it sounds like those softened a bit through the quarter but there's been some positive signs early in january


kind of current level of performance, so if WPD is able to continue to improve that would push us

kind of current level of performance so if wpd is able to continue to improve that would push us


Without your hard work and dedication, our continued success would not be possible, and I look forward to working with you over the coming periods.

without your hard work and dedication our continued success would not be possible and i look forward to working with you over the coming periods


The Air Transportation business built on the favorable performance of the first half and steadily captured passenger and cargo demand.

the air transportation business built on the favorable performance of the first half and steadily captured passenger and cargo demand


Then closing up with what we talked about in Capital Markets Day.

then closing up with what we talked about in capital markets day


Further, no interested party should rely on the fact that the guidance of forward-looking statements is current at any time, other than the time of this call.

further no interested party should rely on the fact that the guidance of forward-looking statements is current at any time other than the time of this call


Owens Corning delivered an outstanding year. The company is at its best when all of its businesses make meaningful contributions to our financial results.

owens corning delivered an outstanding year the company is at its best when all of its businesses make meaningful contributions to our financial results


Could you just maybe be a little bit more specific in terms of the China -- how did China perform in the fourth quarter in constant currency?

could you just maybe be a little bit more specific in terms of -- did china -- how did china perform in the fourth quarter in constant currency


We believe that the vertically integrated structure that we have built here at Enzo can be a part of the answer to these problems.

we believe that the vertically integrated structure that we have built here at enzo can be a part of the answer to these problems


So does that mean that if execution doesn't improve for the year, that there's downside risk to that updated outlook that you've given

so does that mean that if execution doesn't improve for the year that there's downside risk to that updated outlook that you've given


This is important we got this super right for customers in terms of making their options very clear on how we communicate and what we do with that data.

this is important we got this super right for customers in terms of making our options very clear on how we communicate and what we do with that data


for Canada and what we need to do in order to make sure that we get in

for canada and what we need to do in order to make sure that we get in


land collateral as a way to -- that may be lowly levered or unlevered to help provide the capital to clean up some of those operating lines. So I think

land collateral as a way to -- that may be lowly levered or unlevered to help provide the capital to clean up some of those operating lines so i think


Ladies and gentlemen, the conference has now concluded. Thank you for attending today's presentation, you may now disconnect your lines.

ladies and gentlemen the conference has now concluded thank you for attending today's presentation you may now disconnect your lines


As expected, the majority of Premium Economy customers are leisure customers looking for an affordable way to enhance their international flight experience.

as expected the majority of premium economy customers are leisure customers looking for an affordable way to enhance their international flight experience


so far this year. No. Is that what you're looking at before or this is just going to be how things flow at a bit lower volume level next year?

so far this year is that what you're looking at before or this is just going to be how things flow at a bit lower volume level next year


Our assessment platform, iON, continues to expand its reach both in terms of having a physical presence in every state and union territory in India,

our assessment platform ion continues to expand its reach both in terms of having a physical presence in every state and union territory in india


and it doesn't impact other products quite as much. And as I said, being surgical allows you to evaluate those types of decisions.

and it doesn't impact other products quite as much and as i said being surgical allows you to evaluate those types of decisions


realistic and appropriate in terms of the kinds of evidence they're looking for to support


so we're not actually losing any revenue. In fact those strategies are actually performing better with significantly smaller book sizes and therefore significantly smaller capital.

so we're not actually losing any revenue in fact those strategies are actually performing better with significantly smaller book sizes and therefore significantly smaller capital


Thank you, Catherine. Good morning, and welcome to the Aptose Biosciences conference call to discuss financial and operational results for the third quarter

thank you catherine good morning and welcome to the aptose biosciences conference call to discuss financial and operational results for the third quarter


you guys are one of those few remaining independent firms that you would entertain merging with a bigger firm at a certain price without mentioning the price of a dime?

you guys are one of the few remaining independent firms that you would entertain merging with a bigger firm at a certain price without mentioning the price at the time


All Integer associates are excited to serve our customers because it is through our customers that we improve patients' lives.

all integer associates are excited to serve our customers because it is through our customers that we improve patients' lives


although our third quarter is our weakest group quarter of the year, we are encouraged by the pickup during the second quarter

although our third quarter is our weakest group quarter of the year we are encouraged by the pickup during the second quarter


The fact that we've seen a buildup in cash over the last several quarters doesn't reflect the change in that philosophy.

the fact that we've seen a buildup in cash over the last several quarters doesn't reflect the change in that philosophy


And third, Connecticut Governor Malloy signed the legislation allowing state officials to change the rules for how electricity

and third connecticut governor malloy signed legislation allowing state officials to change the rules for how electricity


and how the drug's performing. But I think what we're trying to say is there's other work that's gone on in this area -- I would say quite a bit of work over time.

and how the drug's performing but i think what we're trying to say is there's other work that's gone on in this area i would say quite a bit of work over time


what appears to be sort of a flattening trend line in terms of loan demand, particularly with

what appears to be sort of a flattening trend line in terms of loan demand particularly with


Looking back over 2016, I'm pleased with the significant accomplishments that we achieved through the hard work and dedication of our employees.

looking back over 2016 i'm pleased with the significant accomplishments that we achieved through the hard work and dedication of our employees


would be looking for -- if you did look at truck brokerage, would you look at a Mode like model or would it be more of the company store, company employee model?

would you be looking for -- if you did look at truck brokerage would you look at a mode-like model or would it be more of the company store company employee model


built over the last period of time in Europe, but the market is growing and growing into that capacity so we're not unhappy with what's going on there.

built over the last period of time in europe but the market is growing and growing into that capacity so we're not unhappy with what's going on there


we always said Line 9 and Southern Access Extension would provide us with the strongest netbacks. So we've been encouraged by

we always said line 9 and southern access extension would provide us with the strongest netbacks so we've been encouraged by


if there are unique characteristics trickling into the selling cycle this year as well from maybe high retention rates or any other trend that you're seeing.

if there are unique characteristics trickling into the selling cycle this year as well for maybe high retention rates or any other trend that you're seeing


a little above what the Street was anticipating for both revenue and EPS. If you could maybe just touch on that a little bit where it gives you confidence

a little above what the street was anticipating for both revenue and eps if you could maybe just touch on that a little bit where it gives you confidence


This campaign will continue throughout the fourth quarter and our overall marketing dollar spend will be in line with last year.

this campaign will continue throughout the fourth quarter and our overall marketing dollar spend will be in line with last year


Can you maybe talk to some of the benefit that you're getting from improving or consolidating your relationships with specific manufacturing vendors?

can you maybe talk to some of the benefit that you're getting from improving or consolidating your relationships with specific manufacturing vendors


line of your business actually down sequentially? I'm just trying to understand if the growth in the other parts of your business were actually

a line of your business actually down sequentially and i'm just trying to understand if the growth in the other parts of your business were actually


These are not trivial things, as they have a big impact on the overall convenience of the experience, and it's convenience that has always been one of the main drivers of disruption.

these are not trivial things as they have a big impact on the overall convenience of the experience and it's convenience that has always been one of the main drivers of disruption


This modern platform is one of the big advantages we have over the existing incumbents as it allows us to be faster and more innovative in terms of features and products

this modern platform is one of the big advantages we have over the existing incumbents as it allows us to be faster and more innovative in terms of features and products


stock compensation expense as well as changes in the fair value of contingent consideration recorded in relation to acquisitions.


With Noble, we'll be adding a new highly sophisticated large commercial and industrial customer base, targeted through a direct access model.

with noble we'll be adding a new highly sophisticated large commercial and industrial customer base targeted through a direct access model


while they weren't down in Europe, they were weaker than normal. So I think those are maybe a little bit more of a telltale sign of the macro.

while they weren't down in europe they were weaker than normal so i think those are maybe a little bit more of a telltale sign of the macro


This is supported by smart analytics, meaning, we can rely less on mass marketing campaigns.

this is supported by smart analytics meaning we can rely less on mass marketing campaigns


pull back on their Class 8 tractor investments this year, but they are not saying that about their trailer needs.

pull back on their class 8 tractor investments this year but they are not saying that about their trailer needs


The first is going to be the addition of the abdominal symptoms claim, which we believe will allow us to speak to a broader patient population

the first is going to be the addition of the abdominal symptoms claim which we believe will allow us to speak to a broader patient population


Investing cash flows are up at the half year due to timing of projects, with the full year expected to be consistent with last year.

investing cash flows are up at the half year due to timing of projects with the full year expected to be consistent with last year


So from a financial perspective, you can see today that we remain in a strong position in regards to profitability and balance sheet,

so from a financial perspective you can see today that we remain in a strong position in regards to profitability and balance sheet


So when you think about people that ought to be able to capitalize on this, it's people like ourselves that have built and spent 20-plus years building a system out there

so when we -- you think about people that ought to be able to capitalize on this it's people like ourselves that have built and spent 20-plus years building a system out there


people tend to wrap up the year and then it's usually well into January before they're through their budgeting for the next year. Many of our customers are

people tend to wrap up the year and then it's usually well into january before they're through their budgeting for the next year many of our customers are


space over the last few years as you had really strong cash flow growth. But if looking forward over the next couple of years,

space over the last few years as you had really strong cash flow growth but if looking forward over the next couple of years


Along the way, we have assembled an exceptional team with lots of caring and lots of compete. I'm so proud of them.

along the way we have assembled an exceptional team with lots of caring and lots of compete i'm so proud of them


Would you -- as far as items that you would caution us not to get too caught up in terms of looking at that as a run rate,

would you -- as far as items that you would caution us not to get too caught up in terms of looking at that as a run rate


So all of these point to the need for greater infrastructure in the region. And this is a project we continue to move forward with.

so all of these point to the need for greater infrastructure in the region and this is a project we continue to move forward with


resources in the market just as the renewables credits are the cost of keeping resources in the market, paying for the environmental attributes,

resources in the market just as the renewables credits are the cost of keeping resources in the market and paying for the environmental attributes


So you could list them and they are available to see in the catalog. And this is what the customer would be running if they bought the AMPLIFY

so you could list them and they're available to see in the catalog and this is what the customer would be running if they bought the amplify


So generally speaking, do you think there should be a change in your assumed depreciation schedule so you would prevent a lot of these aircraft impairment charges?

so generally speaking do you think there should be a change in your assumed depreciation schedule so you would prevent a lot of these aircraft impairment charges


to date. That's certainly a reflection of the feedback that we've had from the market over the course of the last five months.

to date that's certainly a reflection of the feedback that we've had from the market over the course of the last 5 months


and any discounts, rebates and product returns. We expect the earliest we'll have sufficient visibility to reliably

and any discounts rebates and product returns we expect the earliest will have sufficient visibility to reliably


Having said this, it is still very early days. But so far we like what we're seeing in Colombia on mobile as much as we do on home.

having said this it is still very early days but so far we like what we're seeing in colombia on mobile as much as we do on home


I think you want to go ahead and kind of reevaluate your portfolio even further and maybe sell some more assets at this point,


To go into more detail on our operational excellence progress, over the last 2 years, our manufacturing organization has executed on our plans to be more efficient.

to go into more detail on our operational excellence progress over the last 2 years our manufacturing organization has executed on our plans to be more efficient


Not the sales force, but pieces of particularly around the value proposition, and we've applied it to those small customers who are doing business with us through the web,

not the sales force but pieces of particularly around the value proposition and we've applied it to those small customers who are doing business with us through the web


and we continue to have steady success. We have now surpassed 25,000 unique direct customers as of September.

and we continue to have steady success we have now surpassed 25 000 unique direct customers as of september


With fuel hedge losses significantly below where they were last year and the second half of the -- of this year,

with fuel hedge losses significantly below where they were last year in the second half of this year


Our vision is to exceed the expectations of our customers, shareholders and communities today and to make possible the energy systems of tomorrow.

our vision is to exceed the expectations of our customer shareholders and communities today and to make possible the energy systems of tomorrow


And you will see that the market is currently dominated by Qatar and Australia.

and you will see that the market is currently dominated by qatar and australia


how much EBIDTA did you guys actually see from those acquisitions in Q4? I'm guessing it was negligible, but was it a couple of million bucks or what?

how much ebitda did you guys actually see from those acquisitions in q4 i'm guessing it was negligible but was it a couple million bucks or what


we get it done in 6, 8, 10 weeks and we get the deal. So we're seeing more of that as we go forward.

we get it done in 6 8 10 weeks and we get the deal so we're seeing more of that as we go forward


As we make larger inroads into the residential market, we expect this market to become a larger and more significant portion

as we make larger inroads into the residential market we expect this market to become a larger and more significant portion


that this is an important program for us, not only because of its size, but also because it is our first large blade server opportunity.

this is an important program for us not only because of its size but also because it is our first large blade server opportunity


and buying that from a company that does the design, development and manufacturing domestically, it really narrows down the field

and buying that from a company that does the design development and manufacturing domestically it really narrows down the field


While the new model involves some measure of dependency on downstream partners, this is mitigated by the profound alignment of interest with our new customers.

while the new model involves some measure of dependency on downstream partners this is mitigated by the profound alignment of interest with our new customers


I'll take this moment to remind everyone of our previously stated ambitions to deliver sustainable mid- to high-single digits revenue growth

i'll take this moment to remind everyone of our previously stated ambitions to deliver sustainable mid- to high single-digit revenue growth


In the last couple of months, we have made a number of significant organizational changes that we believe will make us more effective.

in the last couple of months we have made a number of significant organizational changes that we believe will make us more effective


I am very pleased with our execution in Q3. My team delivered strong financial performance,

i am very pleased with our execution in q3 my team delivered strong financial performance


This deal represents the largest subscription software contract in the company's history and provides significant momentum for this solution.

this deal represents the largest subscription software contract in the company's history and provides significant momentum for this solution


So we feel good about the competitive positioning. We're working hard to get ahead of the complexity on this large program,

so we feel good about the competitive positioning we're working hard to get ahead of the complexity on this large program


A reconciliation of these measures to the most comparable GAAP measures can be found in the financial tables of today's press release.

a reconciliation of these measures to the most comparable gaap measures can be found in the financial tables of today's press release


then the likelihood of you are sitting on the sideline for a period of time until your results are where your expectations lie

then the likelihood of you're sitting on the sideline for a period of time until your results are where your expectations lie


Really, the emergence of bankruptcy and the reinvigoration of capital spending by Ultra has driven volumes,

really the emergence of bankruptcy and the reinvigoration of capital spending by ultra has driven volumes


driving the overall downward trend in the delinquency ratio. And now the provision on Page 18. As was mentioned,

driving the overall downward trend in the delinquency ratio and now the provision on page 18 as was mentioned


The tone seems a little bit lukewarm on that. Is this more like you want to put in a floor if the stock were to get hit for some reason? Or

the tone seems a little bit lukewarm on that is this more like you want to put in a floor if the stock were to get hit for some reason or


smart elevators and using Internet of Things and using a strategy around that, around an agile enterprise, when you look at the auto

smart elevators and using internet of things and using a strategy around that around an agile enterprise when you look at the auto


And frankly, we've shown patience and discipline with our growth which has really come in chunks over that span of time

and frankly we've shown patience and discipline with our growth which has really come in chunks over that span of time


finally down in the lower left, historical cost of deposits. We were able to lag during the cycle, but if the Fed Funds rate increase

and finally down in the lower left historical cost of deposits we're able to lag during the cycle but with the fed funds rate increase


in our knowledge and our understanding of the over 50s. In the longer term, we expect to see a positive impact on churn rates

in our knowledge and our understanding of the over 50s in the longer term we expect to see a positive impact on churn rates


Noble Group will remain a strong diverse set of businesses, focused on our strong physical franchises around the world.

noble group will remain a strong diverse set of businesses focused on our strong physical franchises around the world


Before I provide the numbers for the second quarter's instructive, to point out that despite our outperformance in the first quarter, we are maintaining our original full year guidance.

before i provide the numbers for the second quarter it's instructive to point out that despite our app performance in the first quarter we are maintaining our original full year guidance


I just thought you may be interested to see what emerges out of -- what looks like a complicated rough.

i just thought you may be interested to see what emerges out of what looks like complicated ruck


So anything you want to point out in terms of cadence through the year or seasonality, both on the top and the bottom lines?

so anything you want to point out in terms of cadence through the year or seasonality both on the top and the bottom lines


is sufficient for us to meet our return hurdles while providing a competitive edge for TCAP from a product mix standpoint.

is sufficient for us to meet our return hurdles while providing a competitive edge with tcap from a product mix standpoint


and reflects the point of origination of pickup of the material for the customer, Jon. So it's already baked into those numbers.

and reflects the point of origination of pickup of the material for the customer john so it's already baked into those numbers


follow up on the discussion about Florida. So could you just give us a little bit more of a sense of

follow up on the discussion about florida so can you just give us a little bit more of a sense of


So for other financial services what are your future plans? How are you going to reinforce your financial services business?

so for other financial services what are your future plans how are you going to reinforce your financial services business


As you all know, Q1 is normally seasonally down from Q4 of the prior year market expectations

as you all know q1 is normally seasonally down from q4 of the prior year market expectations


Any amounts though that were included in the adjustment in the fourth quarter, I mean, we've not

any amounts though that were included in the adjustment in the fourth quarter i mean we've not


As we observed on our last conference call, property pricing has leveled off but not yet been impacted negatively by the slowing transaction activity.

as we observed on our last conference call property pricing has leveled off but not yet been impacted negatively by the slowing transaction activity


for people to buy at a dealership. These products are specifically tailored to the auto industry, they are beneficial

for people to buy at a dealership these products are specifically tailored to the auto industry they are beneficial


and manufacturing strategy in one of those 3 plants. So we need to get into that and we'll come back to you with updated estimates.

and manufacturing strategy in one of those 3 plants so we need to get into that and then we'll come back to you with updated estimates


But how quickly that happened in the quarter and then being able to react to it did drive the basis point decline in the quarter.

but how quickly that happened in the quarter and then being able to react to it did drive the basis point decline in the quarter


The new suite will cover the entire item lifecycle from how we engage and buy from our suppliers to how we replenish and allocate to stores.

the new suite will cover the entire item life cycle from how we engage and buy from our suppliers to how we replenish and allocate to stores


and where we have a very competitive product. I think to that extent, that thinking has been

and where we have a very competitive product i think to that extent that thinking has been


the remainder of my comments, I'm going to speak to the midpoint of our full year EPS range and on a constant currency basis.

for the remainder of my comments i'm going to speak to the midpoint of our full year eps range and on a constant currency basis


that than just a market deal. And we've got a lot of cash, so we'd like to have that be a meaningful amount or

than just a market deal and we've got a lot of cash so we'd like to have that be a meaningful amount


and our Makoto business. We are building out our investment in corporate banking presence here in Canada and internationally.

and our macquarie business we are building out our investment in corporate banking presence here in canada and internationally


In addition, this year, with the implementation of our renewed ERP system, which we expect

in addition this year with the implementation of our new erp system which we expect


if you take a step back from that and if you're a player in the market who only covers, say, part of the market, may be only digital or you only have set-top box data,

if you take a step back from that and if you're a player in the market who only covers say part of the market maybe only digital or you only have set-top box data


in terms of our ability to execute in that space. There's an absolute change in the manufacturing market and that change favors the cloud native.

in terms of our ability to execute in that space there's an absolute change in the manufacturing market and that change favors the cloud native


The size of any funding required for the balance of 2015 will be a function of planned activity, production levels and revenue at that time.

the size of any funding required for the balance of 2015 will be a function of planned activity production levels and revenue at that time


the protocol so that we can start on time in the second half of this year.


it's not as simple as bringing new technology to the fire service market as it might be bringing new technology to the consumer market.

it's not as simple as bringing new technology to the fire service market as it might be to bringing new technology to the consumer market


It's really exciting to be working with Honda Aircraft Company, and we see opportunities to do even more with them going forward.

it's really exciting to be working with honda aircraft company and we see opportunities to do even more with them going forward


Part of the selling expense as you go through the whole thing in the second quarter was just a shift, because we're doing more international, which is more second quarter

part of the selling expenses you go through the whole thing in the second quarter was just a shift because we're doing more international which is more second quarter


looking back on the CODA business is a lot of these contracts require significant deposits before we

looking back on the coda business is a lot of these contracts require significant deposits before we


And not only from a supply chain perspective but equally, from a ReposiTrak perspective, we're terribly concerned that our customers get

and not only from a supply chain perspective but equally from a repository perspective we're terribly concerned that our customers get


I think that -- you raise a very good point, though. We did take some actions that we outlined in our prepared remarks related to both

i think that you raise a very good point though we did take some actions that we outlined in our prepared remarks related to both


In addition, we continue to pursue unmanned opportunities with the Marine Corps and the firefighting mission with the Department of the Interior.

in addition we continue to pursue unmanned opportunities with the marine corps and the firefighting mission with the department of the interior


These statements are also subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect.

these statements are also subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect


and it seems that the investment you're making in price can be promotion, shelf pricing, more dollars in PC Plus.

and it seems that the investment you're making in price can be promotion shelf pricing more dollars in pc plus


and customers were able to experience the new automated software solution Phenomap from Visiopharm. While the software is the headline,

and customers were able to experience the new automated software solution phenomap from vizeopharm while the software is the headline


At the end of this presentation, we will open the floor for questions, where we will answer with as much detail as possible any remaining doubts or inquiries.

at the end of this presentation we will open the floor for questions where we will answer with as much detail as possible any remaining doubts or inquiries


Quota credit and commissions for nonrecurring sales have been eliminated. We believe that an individual rep

quota credit and commissions for nonrecurring sales have been eliminated we believe that an individual rep


Also notable was the change in the proportion of patients achieving modified partial remission during the open-label period of the study.

also notable was the change in the proportion of patients achieving modified partial remission during the open-label period of the study


maybe refer more specifically kind of to the deal flow that we have seen over now the last 9 months or so.

maybe refer more specifically to the deal flow that we have seen over now the last 9 months or so


Further to that point, improving and ultimately acceptable financial returns will be the most critical measure by which we measure our own success.

further to that point improving and ultimately acceptable financial returns will be the most critical measure by which we measure our own success


looking in Q1, then you are back again because now they both are included in the figures from the 1st of January.

looking in q1 then you are back again because now they both are included in the figures from the 1st of january


aligning directly to our 5-year plan and allowing us to better focus on our global regulatory and compliance offerings.


As we look to the future, the return we can bring to shareholders by focusing on our members and the value we bring to them will be front and center in our minds.

as we look to the future the return we can bring to shareholders by focusing on our members and the value we bring to them will be front and center in our minds


New York City has this enormous backlog. Governor Cuomo has stated for everyone to hear that he expects to generate

new york city has this enormous backlog governor cuomo has stated for everyone to hear that he expects to generate


in an industry where nobody's left. I keep saying it, but the truth is in the pudding. We have now got 3 straight

in an industry where nobody's left i keep saying it but the truth is in the pudding we have now got 3 straight


what the future commencing really now has in store. The only thing that I

what the future commencing really now has in store the only thing that by


net income. We are expecting higher revenue in the second half than the first. The revenue growth, we also expect to increase in

your net income we are expecting higher revenue in the second half than the first the revenue growth we also expect to increase


Ladies and gentlemen, thank you for your participation in today's conference. This does conclude the program, and you may now disconnect. Everyone, have a great day.

ladies and gentlemen thank you for your participation in today's conference this does conclude the program and you may now disconnect everyone have a great day


At the same time, I've spent a lot of time in Europe with the team underneath Katarzyna, and we have strong players. I have a lot of confidence in the team.

at the same time i've spent a lot of time in europe with the team underneath castrizena and we have strong players i have a lot of confidence in the team


to offset what we view -- what we know is going to be a hole for us for the full year relative to our original guidance. So

to offset what we view -- what we know is going to be a hole for us for the full year relative to our original guidance so


middle of next year, we'd get a decision from the commission on our action plan as part of the Integrated Resource Planning process.

middle of next year we'd get a decision from the commission on our action plan as part of the integrated resource planning process


we become an even more important place to work. When you look at our turnover, not excessively high in any way, shape or form,

we become an even more important place to work when you look at our turnover not excessively high in any way shape or form


Recently, the Brazilian government announced changes in the primary financing program for irrigation equipment called

recently the brazilian government announced changes in the primary financing program for irrigation equipment called motor infra


While we want to be clear regarding our GAAP results and the items they reflect, when adjusting for these onetime items

while we want to be clear regarding our gaap results and the items they reflect when adjusting for these onetime items


mine is a big complex thing where you're doing lots of work and lots of -- it's not all related to every ton of coal that's delivered.


our pipeline includes a large number of opportunities, including an active pilot with a national enterprise customer

our pipeline includes a large number of opportunities including an active pilot with a national enterprise customer


Northwest will be identifying areas of synergy that they can leverage by being part of Rollins. The addition of Northwest

northwest will be identifying areas of synergy that they can leverage by being part of rollins the addition of northwest


The main reason for the increase is the full quarter revenues on the 4 container vessels on charter to Evergreen, which were delivered to us end of May.

the main reason for the increase is the full quarter revenues on the 4 container vessels on charter to evergreen which were delivered towards the end of may


certain lift out of loyalty in the second year and we just didn't get that. As we dug more into it and talked to

a certain lift out of loyalty in the second year and we just didn't get that as we dug more into it and talked to


And part of the costs that we've talked about and fully scoped out this morning, include both the expected

and part of the costs that we've talked about and fully scoped out this morning include both the expected


this is partially as a result of new product and service introductions, which generate those higher margins and leads to a more favorable product mix.

and this is partially as a result of new product and service introductions which generate those higher margins and lead to a more favorable product mix


where we provided support for the federal marketplace. Second quarter operating margin for the federal segment

where we provided support for the federal marketplace second quarter operating margin for the federal segment


These adverse impacts were more than offset by operating profit growth, higher associate income and lower net finance charges,

these adverse impacts were more than offset by operating profit growth higher associate income and lower net finance charges


This is required for us to continue to be a leader in the OTT space, particularly in the rapidly growing AVOD segment that Chris described.

this is required for us to continue to be a leader in the ott space particularly in the rapidly growing avod segment that chris described


Despite the good backlog in our Energy Group, we remain slightly cautious on our outlook for the Energy Group, with the main headwinds for this group being persistent.

despite the good backlog in our energy group we remain slightly cautious on our outlook for the energy group with the main headwinds for this group being persistent


In conclusion, Industrial had an exceptional first half of the year and remains well positioned for continued success.

in conclusion industrial had an exceptional first half of the year and remains well positioned for continued success


Before we begin, I'll remind listeners that during the course of this call we will make forward-looking statements within the meaning of the Federal Securities Laws.

before we begin i'll remind listeners that during the course of this call we will make forward-looking statements within the meaning of the federal securities laws


For example, on the opposite end of the spectrum from CityFibre might be incumbent local exchange carriers.

for example on the opposite end of the spectrum from city fiber might be incumbent local exchange carriers


that when you're looking at the mix of projects in our backlog, there is a wide variety of price levels that we're seeing.

of that so when you're looking at the mix of projects in our backlog there is a wide variety of price levels that we're seeing


As Kate mentioned, we've seen some improving trends across our international businesses, with revenues in Europe and Asia Pacific increasing during the quarter.

as kate mentioned we've seen some improving trends across our international businesses with revenues in europe and asia pacific increasing during the quarter


We will expand our network into white spots by including such methods as utilizing alliances with overseas airlines.

we will expand our network into white spots by including such methods as utilizing alliances with overseas airlines


Together, automotive and industrial markets contributed close to half of total company revenue in the September quarter.

together automotive and industrial markets contributed close to half of total company revenue in the september quarter


we reserved our right to dispute that amount not because we disagree with the amount necessarily because we haven't had a chance to audit the calculations yet.

we reserved our right to dispute that amount not because we disagree with the amount necessarily but because we haven't had a chance to audit the calculation yet


It has been relatively stable over the course of the last year. We think that's a positive for us as a manufacturer. We also think it's probably a positive

it has been relatively stable over the course of the last year we think that's a positive for us as a manufacturer we also think it's probably a positive


and increasing volume from a large existing customer that has decided to extend our services into one of their other product groups.


I don't anticipate that we'll have to, because there is a very -- there's a lot of clarity from OFAC that the 50% of capital is the rule that they apply.

i don't anticipate that we'll have to because there's a very -- there's a lot of clarity from mofac that the 50% of capital is the rule that they apply


Thank you. It's been a very strong quarter for us. We are making significant progress on the fronts of product development and

thank you it's been a very strong quarter for us we are making significant progress on fronts of product development and


the variability in that number would be based on the activity that we have on the legal front in terms of case work.

the variability in that number would be based on the activity that we have on the legal front in terms of casework


This speaks to the power of our common, scaled network infrastructure that serves both the Consumer and Business segments.

this speaks to the power of our common scaled network infrastructure that serves both the consumer and business segments


Engineering and development increased 76% for the full year due to the same factors.

engineering and development increased 76% for the full year due to the same factors


The nature of that business is lower margin for us but also from the pricing point of view because it's projects versus service.

the nature of that business is lower margin for us but also from a pricing point of view because it's projects versus service


Accordingly, we're continuing to engage with potential tenants while preserving the flexibility to achieve an optimal outcome.

accordingly we're continuing to engage with potential tenants while preserving the flexibility to achieve an optimal outcome


According to our leasing agents, the Midtown South office market had a strong quarter with 2.7 million square feet being leased.

according to our leasing agents the midtown south office market had a strong quarter with 2 7 million square feet being leased


The fourth quarter was dominated by the new tax legislation being signed into law by the President and causing our company to remeasure its deferred tax asset on the balance sheet.

the fourth quarter was dominated by the new tax legislation being signed into law by the president and causing our company to remeasure its deferred tax asset on the balance sheet


So we are sticking with the guidance of something around 100 for the full year, needless to change this in just last quarter.

so we are sticking with the guidance of something around 100 for the full year needless to change this in just last quarter


Our investments in the second quarter primarily represent a combination of incremental loans to existing portfolio companies

our investments in the second quarter primarily represent a combination of incremental loans to existing portfolio companies


Our view is that as we see the construction activity really start picking up, that's going to flush through probably a little bit quicker on the lumber side

our view is that as we see the construction activity really start picking up that's going to flush through probably a little bit quicker on the lumber side


companies. There's a whole host of biotech companies that are operating businesses that have drugs in the marketplace and have sales and

companies there's a whole host of biotech companies that are operating businesses that have drugs in the marketplace and have sales and


The adjustments shown for pension, stock-based compensation and restructuring are all attributable to the spin so have also been adjusted out.

the adjustments shown for pension stock-based compensation and restructuring are all attributable to the spin so have also been adjusted out


As discussed in prior earnings calls, the effective tax rate will continue to be somewhat sensitive to the geographic mix of earnings across the globe.

as discussed in prior earnings calls the effective tax rate will continue to be somewhat sensitive to the geographic mix of earnings across the globe


We remain encouraged by the progress and constructive discussions with customers on the growth of our new Lifecycle business.

we remain encouraged by the progress in constructive discussions with customers on the growth of our new life cycle business


Through the fourth quarter, academic centers represented the highest number of ordering accounts by type as well as the highest volume of orders.

through the fourth quarter academic centers represented the highest number of ordering accounts by type as well as the highest volume of orders


This is how we planned the business to better align with customer demand, along with an expectation around improved international service levels in the fourth quarter.

this is how we plan the business to better align with customer demand along with an expectation around improved international service levels in the fourth quarter


the NOCs and independents are starting to see the need to invest in their resource base simply to maintain production at current levels.

the nocs and independents are starting to see the need to invest in their resource base simply to maintain production at current levels


our level of charge-offs is very much dependent on the target yield and risk profile that we're taking in the business. I think, right now, we are

our level of charge-offs is very much dependent on the target yield and risk profile that we're taking in the business i think right now we are


Global economic uncertainty and slow growth in China continued to dampen LED TV demand.

global economic uncertainty and slow growth in china continued to dampen led tv demand


Thanks, Dick, and good morning, everyone. Let me start by saying that we are obviously pleased with the fourth quarter and full year results.

thanks dick and good morning everyone let me start by saying that we are obviously pleased with the fourth quarter and full year results


And what is the status of the standstill agreement with Allergan? And then you touched a little bit on pricing

and what is the status of the standstill agreement with allergan and then you touched a little bit on pricing


to bring technological solutions and to be seen as a positive force in our interactions with communities where our assets are located.


This year, we have experienced growing pains in a few of our plants where higher sales growth rates have increased capacity utilization.

this year we have experienced growing pains in a few of our plants where higher sales growth rates have increased capacity utilization


another customer with Linx Pay. And so maybe we would think that these would be

another customer with links pay and so maybe we would think that these would be


types of vessels in Europe. That seems to be getting better. The area that again still seems to be

types of vessels in europe that seems to be getting better the area that again still seems to be


We've increased the renewable piece and the spending, but we're probably not going to see a lot of the revenue because those are more at the

we've increased the renewable piece in the spending but we're probably not going to see a lot of the revenue because those are more


And as Jim mentioned going to this concept of adjusted net income, we're really looking to focus on the core business going forward,

and as jim mentioned going to this concept of adjusted net income we're really looking to focus on the core business going forward


That's great. It's always -- the thing about this digital thing, Overwatch is a great title for us, and the thing about it is you have to be insightful about what

that's great it's always -- the thing about this digital thing overwatch is a great title for us and the thing about it is you have to be insightful about what


We have spent time following up with several analysts and investors since our Investor Day and have had good dialogue on our strategy.

we have spent time following up with several analysts and investors since our investor day and have had good dialogue on our strategy


Given that this is a very recent development, we don't yet have specific comments or guidance on the financial implications of this change.

given that this is a very recent development we don't yet have specific comments or guidance on the financial implications of this change


and we are expecting also to continue on that lower levels for the next year, as I have explained with the guidance before. So

and we are expecting also to continue on that lower levels for the next year as i have explained with the guidance before so


we expanded operating margins by 50 basis points for the year in a declining sales environment, a very solid result.

we expanded operating margins by 50 basis points for the year in a declining sales environment a very solid result


Well, thank you for joining us for today's call. And we look forward to speaking you -- with you again when we report our first quarter results in May.

well thank you for joining us for today's call we look forward to speaking you -- with you again when we report our first quarter results in may


we see certainly advantages to higher defense spending and certainly other key advantages to actually having a budget.


And -- for instance, we had one customer that sold out in Eastern New Mexico and we were running 5 rigs a day

and for instance we had one customer that sold out in eastern new mexico and we were running 5 rigs a day


We did this to heighten our focus on becoming the leader in the integrated containment and delivery of injectable medicines.

we did this to heighten our focus on becoming the leader in the integrated containment and delivery of injectable medicines


you might deploy the kind of what looks to be excess funds available to Medicare Advantage for next year.

you might deploy the kind of what looks to be excess funds available to medicare advantage for next year


So -- and the pattern of our share-based awards creates a higher level of vestings and exercises in the first half, and that's been consistent over time.

so -- and the pattern of our share-based awards creates a higher level of vestings and exercises in the first half and that's been consistent over time


following the additional rejections expected in the first quarter before reaccelerating in the second half as redevelopment completions also accelerate.


and we have not submitted this yet. We have -- we are very motivated, and

and we have not submitted this yet we have -- we are very motivated and


putting these expenses as deductible according to the parameters that are in the law.


is operating in the third quarter already higher than the nominal capacity. So in the third quarter and the fourth quarter,

is operating in the third quarter already higher than the nominal capacity so in the third quarter in the fourth quarter


conserving a little bit of cash and having a little more firepower for some of the organic projects that you have potentially on the table or acquisitions?


what we saw last year, where at this point in time you saw the seasonal downturn from now until August, September?

what we saw last year where at this point in time you saw the seasonal downturn from now until august september


The LIT business is now fully integrated and continues to play an important role in several of our major programs.

the lit business is now fully integrated and continues to play an important role in several of our major programs


but we need to be more aggressive. Although I'm pleased with the performance in '17, I think we could have set the bar higher and acquired more aggressively.

but we need to be more aggressive although i'm pleased with the performance in '17 i think we could have set the bar higher and acquired more aggressively


as well as the quality of execution on projects, the management of risk for future projects and a strong underpinning of continued awards in Fab Services,

as well as the quality of execution on projects the management of risk for future projects and a strong underpinning of continued awards in fab services


driving operational and supply chain efficiencies, improving our process and focus within our innovation and new product development efforts,

driving operational and supply chain efficiencies improving our process and focus within our innovation and new product development efforts


We drove a 16 percentage point lift in action intent to shop at Target for the holidays as measured by Nielsen

we drove a 16 percentage point lift in action intent to shop at target for the holidays as measured by nielsen


Target partnered with us using Snap Ads and Filters to drive action intent and in-store visitation for holiday shopping.

target partnered with us using snapets and filters to drive action intent and in-store visitation for holiday shopping


And again, it's -- the best way we can measure it right now is the fact that our lead times have doubled here over the past few months.

and again it's -- the best way we can measure right now is the fact that our lead times have doubled here over the past few months


And so a lot of those securities are still turning out distributions and dividends and interest, but the market value of the securities have gone down. And so

and so a lot of those securities are still turning out distributions and dividends and interest but the market value of those securities have gone down and so


around the building as we now have no street seller of our ticket to whom we are obligated to sell our tickets.


This restructuring was intended to create better alignment with client expectations and market demand and also to improve our leverage model.

this restructuring was intended to create better alignment with client expectations and market demand and also to improve our leverage model


The operating team needs to be rebuilt and operating systems and processes designed for a modern mechanized operation.

the operating team needs to be rebuilt and operating systems and processes designed for a modern mechanized operation


Specifically, July 2018 wind production at the peak hour was right around the average wind production at the peak hour over the last 3 years in July.

specifically july 2018 wind production at the peak hour was right around the average wind production at the peak hour over the last 3 years in july


Ian joined us from Sherwin-Williams and is already collaborating with our segment business leaders and marketing teams to find better ways to gather,

ian joined us from sherwin williams and is already collaborating with our segment business leaders and marketing teams to find better ways to gather


we will continue to exclude New Jersey from our full-year projection. Though we now expect the second quarter to include 3 months of New Jersey revenue.

we will continue to exclude new jersey from our full year projection though we now expect the second quarter to include 3 months of new jersey revenue


somewhat unique because we played the role of an SI in that deal and that was obviously, a multimillion dollar deal.

somewhat unique because we played the role of an si in that deal and that was obviously a multimillion dollar deal


when we go to market by combining our payroll, our benefits and our HR technology services into an integrated service offering to our clients.

when we go to market by combining our payroll our benefits and our hr technology services into an integrated service offering to our clients


Incremental investments, which are forecasted to be lower in 2015, will be focused on new products and channel development to meet

incremental investments which are forecasted to be lower in 2015 will be focused on new products and channel development to meet


Probably the most pleasing thing of all is the long-term contracted position in relation to the ERFs, which has substantially changed.

probably the most pleasing thing of all is the long-term contracted position in relation to the erfs which has substantially changed


As a reminder, we have provided additional guidance for the third quarter in the supplemental presentation posted on our website.

as a reminder we have provided additional guidance for the third quarter in the supplemental presentation posted on our website


we do expect to come back to the historical levels within a year or so.


But at the moment there is nothing tangible on the horizon that indicates that opportunity will be presenting itself anytime soon.

but at the moment there is nothing tangible on the horizon that indicates that opportunity will be presenting itself anytime soon


We will be in a much better position by the end of this year when it will have been operating in a steady state for a period of months.

we will be in a much better position by the end of this year when it'll have been operating in a steady state for a period of months


We chose credit unions because we believe they will continue to lose relevancy especially with millennials and don't have the ability to invest in technology and make that shift to digital.

we trust credit unions because we believe they will continue to lose relevancy especially with millennials and don't have the ability to invest in technology and make that shift to digital


Leonardo, now regarding prices, and you specifically focused on the industry.

leonardo now regarding prices and you specifically focused on the industry


in a tumor type that was previously believed to be refractory, that is where immuno-oncology would provide no benefit, there's clear evidence there could be some.

in a tumor type that was previously believed to be refractory that is where immuno-oncology would provide no benefit there's clear evidence there could be some


that's just core growth on sales in the quarter, but just to reiterate, when I'm looking at orders in the quarter, which I think we highlighted on the conference call

that's just core growth on sales in the quarter but just to reiterate when i'm looking at orders in the quarter which i think we highlighted on the conference call


And so we were looking at a significant growth of metals portion in our overall cost structure.

and so we were looking at a significant growth of metals portion in our overall cost structure


A nonrecurring retention plan based on restricted shares instead of options is a great way to reward the hard work and commitment our people have put forth

a nonrecurring retention plan based on restricted shares instead of options is a great way to reward the hard work and commitment our people have put forth


Beyond our efforts to strengthen the quality of customer service in restaurant operations, we're also making progress on our key digital initiatives.

beyond our efforts to strengthen the quality of customer service and restaurant operations we're also making progress on our key digital initiatives


so the first goal was to grow organically in the last couple of years when the market's been fairly challenging and protect our capital.


The weakness in Australia and Argentina through the first half are expected to impact International revenue growth negatively by about 2% in the first half of the year.

the weakness in australia and argentina through the first half were expected to impact international revenue growth negatively by about 2% in the first half of the year


It also includes strategic initiatives that require extra resources and new capabilities.

it also include strategic initiatives that require extra resources and new capabilities


Today's call will include my comments on Reis' financial and operational results. I will then ask Mark to review our financial performance.

today's call will include my comments on reis' financial and operational results i will then ask mark to review our financial performance


positioned to absorb increased volumes in our existing footprint and cost structure as this end market improves.


I'll get that for you. I will say in general that our fees overall tend to be fairly well distributed relative to the room counts,

i will say in general that our fees overall tend to be fairly well distributed relative to the room count


It is harder to see with the acquisition and the disposition activity over the past year with MD, Jarislowsky Fraser

it is harder to see with the acquisition and the disposition activity over the past year with md jaroslawski fraser


comments if there were something specific that you guys achieved that helps you understand how this works or if this was just simply Texas kind of clearing the decks for the last couple of years?

comments if there was something specific that you guys achieved that helps you understand how this works or if this was just simply texas kind of clearing the deck for the last couple of years


It's a great opportunity, because a lot of Europe is in the process of static to digital conversion

it's a great opportunity because a lot of europe is in the process of static to digital conversion


primarily due to the previously disclosed loss of a domestic tablet program and declines within our legacy runoff business.


because of the fact that we were not doing business with ClarusONE. We lost our business with ClarusONE. So

because of the fact that we were not doing business with clarus one we lost our business with clarus one so


Expenses were controlled very well, thanks to our precise marketing and channel management.

expenses were controlled very well thanks to our precise marketing and channel management


I encourage you to ask the same question and to look for those details when we have the announcement at the end of this year.

i encourage you to ask the same question and to look for those details when we have the announcement at the end of this year


Second of all, we have started to deploy our new real estate strategy, which is twofold

second of all we have started to deploy our new real estate strategy which is twofold


and a rigorous focus on cross functional customer success KPIs. Now I'd like to spend a few minutes talking about our latest

and a rigorous focus on cross-functional customer success kpis now i'd like to spend a few minutes talking about our latest


increase in the turnover, and that was mainly because of limitations of our capacity.

increase in the turnover and that was mainly because of limitations of our capacity


Have you had direct conversations with entities at this point? I'm just trying to get a sense of how close you might be to doing something in this regard?

have you had direct conversations with entities at this point just trying to get a sense of how close you might be to doing something in this regard


Our Fluid Power platform, which is more dependent on OEM end markets, is also under top line pressure in the current macro environment.

our fluid power platform which is more dependent on oem end markets is also under top line pressure in the current macro environment


Two additional quick service restaurants were added in April and we took over operation of 1 more from a former tenant.

two additional quick service restaurants were added in april and we took over operation of one more from a former tenant


We have identified areas where we know we're not competitive internally. We've already taken the decision to shut down some activities

we have identified areas where we know we're not competitive internally we've already taken the decision to shut down some activities


Well, that -- I can tell you what it was. The trouble is it's sort of a meaningless number, because

well that -- i can tell you what it was the trouble is it's sort of a meaningless number because


As we find opportunities that yield even bigger benefits, through testing and learning and iterating, those things will probably take a little bit longer, but

as we find opportunities that yield even bigger benefits through testing and learning and iterating those things will probably take a little bit longer but


the Census Bureau and the SEC. And we see opportunity more broadly

the census bureau and the sec and we see opportunity more broadly


We remain focused on proactively evaluating all assets and all transaction structures and will continue to rely on our proven process.

we remain focused on proactively evaluating all assets and all transaction structures and we'll continue to rely on our proven process


that allows us to reach entirely new audiences. And I could go on and on. Innovation in content is integral to our culture.

that allows us to reach entirely new audiences and i could go on and on innovation in content is integral to our culture


how much utilization impact we could see in the market from scrubber -- from vessels being out of the market

how much utilization impact we could see in the market from vessels being out of the market


I view that as an enabling technology to help us go after the market opportunity. The more it's a transactional side in the ERP system

i view that as an enabling technology to help us go after the market opportunity the more it's the transactional side in the erp system


communications tower at our Aurora I location during the quarter, and we will be offering the first on-campus wireless access to customers.

communication tower at our aurora one location during the quarter and we will be offering the first on-campus wireless access to customers


We're ramping up our Oakdale expansion project, so capital spending in Oakdale will be relatively low next year.

we're wrapping up our oakdale expansion project so capital spending in oakdale will be relatively low next year


and so we're really seeing a significant -- a much more frictionless upgrade. That was one of my commitments early on to the client base. The next is

and so we're really seeing a significant a much more frictionless upgrade that was one of my commitments early on to the client base the next is


So as we look at all of those underlying factors, that continues to give us great confidence because we can continue to make progress there.

so as we look at all of those underlying factors that continues to give us great confidence because we continue to make progress there


Having said that, there are still times when facilities can lie idle for short periods of time, and this has been addressed by running the business

having said that there are still times when facilities can lie idle for short periods of time and this has been addressed by running the business


specifically as it relates to volatile basis differentials and hedge losses that have capped upside participation in the oil curve.


is there a little bit more in those neck of the woods for you guys to look at? Or does that comment that really encompass all of those opportunities at this point?

is there a little bit more in those neck of the woods for you guys to look at or is that comment that really encompasses all of those opportunities at this point


We are uniquely able to provide new products and services to the schools through complete solutions of affordable,

we are uniquely able to provide new products and services to the schools through complete solutions of affordable


If we're coming to our client with a better value proposition, with a highly integrated set of services

if we're coming to our client with a better value proposition with a highly integrated set of services that